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sonofcablemonster
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Hey Chaps
First seerious post from me in a while. The below presentation is made by guy called Dennis Dick who is a well respected prop trader with Bright Trading out in the US. He trades US stocks however what he is talking about applies to all instruments.
If you are trying to trade intraday (Day trading) you need to be very aware that around 70% of the market is bots. They wait for sufficient retail traders to enter the market so they can run the price back on you and force you out (liquidate you).
He comes up with some good advice:
(i) don't compete with them - you cant
(ii) consider lengthening time frames
Hope it helps you in your journey to be a CPT.
GTTY
First seerious post from me in a while. The below presentation is made by guy called Dennis Dick who is a well respected prop trader with Bright Trading out in the US. He trades US stocks however what he is talking about applies to all instruments.
If you are trying to trade intraday (Day trading) you need to be very aware that around 70% of the market is bots. They wait for sufficient retail traders to enter the market so they can run the price back on you and force you out (liquidate you).
He comes up with some good advice:
(i) don't compete with them - you cant
(ii) consider lengthening time frames
Hope it helps you in your journey to be a CPT.
GTTY